Letwin victory raises hopes of an end to Brexit impasse
|Yesterday's Brexit vote saw parliament given a say in the Brexit process, raising hopes that this current deadlock can be solved. On the equity front, all eyes have been on Apple, with the firm announcing a host of new services. Meanwhile, Ocado has been on the rise amid a fifth tie-up in 18-months.
-
Equities in focus, as Apple announce a host of new services
-
Ocado boosted by new Australian tie-up
-
Brexit breakthrough raises hopes of end to current impasse
European markets have managed to stabilise, following their US counterparts higher as growth fears subside. A predominantly equity focused day today has seen everyone talking about Apple's new services, ranging from magazine and streaming subscriptions to a cashback credit card. For the most part they are entering well-trodden ground, with their video streaming copying the models of Netflix and Amazon, while the magazine subscription simply replicates what Readly already does. However, one thing that Apple will be able to do is bring some of these products into the mainstream, with the magazine subscription and cashback credit card likely to prove popular.
Elsewhere, Ocado have been boosted by yet another international tie-up, this time striking a deal with Australian firm Coles. This marks the fifth such deal in 18-months, highlighting the almost limitless growth for the firm which can readily replicate their service across the globe in a manner that belies their industry. To a large extent these deals hammer home why Ocado is now the stand-out performer in the hugely competitive supermarket sector, with their focus on technological advancements in relation to logistics ensuring that they have a bright future.
Last night provided a rare event in the Brexit process; a breakthrough. A wide victory to hand control of the Brexit process to parliament may not be popular with Theresa May, yet it has certainly raised hopes that we could find a way out of the recent impasse. There is certainly a degree of scepticism surrounding tomorrow's votes, given their non-binding nature. However, even if parliament fails to garner enough support for any one single form of Brexit, at least we are progressing and can move on towards finding an ultimate solution. The edge cases of a second referendum or revoking article 50 are unlikely to be on the bill for Wednesday, yet a failure to agree on any single form of Brexit could be the spark to then raise the question of whether MPs prefer to leave without a deal or not leave at all.
Ahead of the open we expect the Dow Jones to open 135 points higher, at 25,652.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.